We financed the purchase through a local and trusted HML and partner, now friend and business associate, Mike, funded the bulk of the rehab.

Hey all, What would you consider are the MUST have tools to scale a STR business? 

Unless you run a high risk business, I'd not use an LLC, and especially NOT for ownership (zero advantage).

We financed the purchase through a local and trusted HML and partner, now friend and business associate, Mike, funded the bulk of the rehab.

Volkswagen Scout Brand investing $11M in Detroit, 200 new jobshttps://www.teslarati.com/volkswagen-scout-11-million-detroit-investment/Hotel Added to Hudson Site, total over $1.4Bhttps://www.detroitnews.com/story/business/2023/11/02/hudsons-site-hotel-plans-move-ahead-as-city-issues-permit/71426631007/Detroit west side Dexter Neighborhood Receives $21.5Mhttps://www.clickondetroit.com/news/local/2023/11/01/neighborhood-on-detroits-west-side-receives-more-than-215m-in-investments/Norway’s Nel Hydron investing $400M, 517 new jobshttps://businessfacilities.com/nel-hydrogen-will-build-400m-gigafactory-in-southeast-michigan#:~:text=In%20Southeast%20Michigan-,Nel%20Hydrogen%20Will%20Build%20%24400M%20Gigafactory%20In%20Southeast%20Michigan,green%20hydrogen%20using%20electrolyzer%20technology.Chase invests $200M in Detroithttps://www.axios.com/2023/09/28/detroit-rebound-jp-morgan-investmentGilbert Foundation invests $439M in Detroithttps://www.henryfordmsu.org/news/september-2023/gilbert-family-foundation-announces-nick-gilbert-neurofibromatosis-research-instituteBollinger Motors investing $44M, 237 new jobshttps://michauto.org/bollinger-motors-plans-44m-metro-detroit-investment/New Detroit Developments to Be Excited Abouthttps://www.metrotimes.com/detroit/15-new-detroit-developments-to-be-excited-about-photos/Slideshow/32734721/32735392BorgWarner Investing $20.6M, 186 new jobshttps://www.crainsdetroit.com/auto-suppliers/borgwarner-invest-206-million-create-186-jobs3 International Companies Choose Detroithttps://www.detroitregionalpartnership.com/international-investment-comes-to-detroit-region/District Detroit $1.5B Development, 12,000 temp jobs, 6,000 new jobshttps://www.detroitnews.com/story/business/2022/11/15/district-detroit-1-5b-development-to-include-housing-retail-hotels/69649853007/6 New Residential Developments in Detroithttps://detroitisit.com/6-new-residential-developments-in-detroit-to-know-about/$2.5B New Center by Henry Ford Health, Pistons owner and Michigan State Universityhttps://www.clickondetroit.com/news/local/2023/02/08/incredible-investment-in-our-city-25b-detroit-neighborhood-redevelopment-to-begin-in-2024/$300M Huntington Place Renovations & New Detroit Hotel https://www.crainsdetroit.com/real-estate/huntington-place-renovations-new-hotel-deal-reached

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I would think you could use almost any type of attorney for a case like this.....but a business law Atty might be best.

Over the last few months I’ve been trying my best to learn as much as I can to gain knowledge in the business and help me make good decisions. 

No penalties and no UFTI.Settling for earning 16% annual cash ROI is leaving money on the table.It’s fairly easy to lock in guaranteed rates of 20%+ using leverage by leasing commercial property( includingSTVRs) back to a business property management company.

The business did very well in rural Texas because of this during the pandemic.